COVID-19 P&C Industry Update: Regulations, Telemedicine, Access to Care and Testing
Over the past few months, the property and casualty industry has experienced an unprecedented number of changes in a short period of time due to the COVID-19 pandemic. From a slew of regulatory updates and working remotely to fluctuations in claim frequency and severity, the industry is continuing to change and adapt every day to eventually end up at our “new normal.” COVID-19 regulatory changes, telemedicine, access to care and COVID-19 testing have been dominating the conversations on webinars, news media and internal operations for over the past few months. Let’s take a closer look at these four specific topics.
Michigan No-Fault Reform: How to Prepare for the Utilization Review Administrative Rules
Michigan is in the midst of making significant changes to its auto insurance system, including allowing for new policy limits, implementing a fee schedule and requiring carriers to send certain bills through retrospective utilization review. On July 2, 2020, portions of Michigan’s no-fault reform regulations will go into effect, including the utilization review provision. As we approach the deadline, it’s important that carriers understand the state’s draft of the utilization review administrative rules, what implications the rules may have on their business and how to prepare to comply in time.
Go Paperless: How Electronic Payment and Billing Solutions Help Digitize the Claims Process
5 MIN READ
It is no secret that technology is continuing to disrupt the auto casualty and workers’ compensation industries. Further digitizing the claims process can provide a variety of benefits for payors and claimants alike, including improving the consumer experience, boosting efficiencies, reducing fraud and allowing for adjusters and other claims handlers to focus on what matters most—helping restore claimants’ lives after a challenging event.
Five Business Trends that Will Become “Business as Usual”
A business crisis is when something prevents an organization from conducting “business as usual.” That definition has never been more true for more businesses at one time than during the last several months. We have all faced “business unusual” since the pandemic began affecting our lives. As states start to slowly open up, we begin to see the possibility of a light at the end of the tunnel. Parts of our industry are on their way back to normal, but other areas of the property and casualty industry likely won’t return to the way they were before. We’ll discover that new ways of working have become “business as usual” as we embrace new technologies and new processes to better serve our customers in this new environment.
Welcome from Alex Sun
In this brief video, Mitchell President and CEO, Alex Sun, introduces the Q2 2020 Industry Trends Report, which presents current data, important trends, predictions about the future of technology and valuable recommendations for an industry still managing the impacts of COVID-19. Read the Q1 2020 Auto Physical Damage and Casualty Industry Trends Reports now.
Guide to Selecting an Electronic Payments Vendor
The workers’ compensation and auto casualty industries today are still in most cases, bogged down by paper. While it can be challenging to transition a claims operation to digital, removing paper from the claims process can provide many benefits, including improving data quality, efficiencies and effectiveness, and can help payors comply with current state regulations and adapt to future regulations. One highly effective and relatively simple method to move toward a paperless approach is implementing an electronic payment system to create a medical claims workflow where payment, fulfillment, remittance and filings can help carriers eliminate paper checks and the administrative processes and costs that come with them.
Pot Policies in Workers' Compensation and Auto Casualty [Webinar]
On-Demand
2 MIN READEven as the pandemic takes center stage, marijuana legislation has been making headway in several states this year.